Absolutely, if that’s your goal! One of the many great things about Medicare Advantage plans is their potential for customization. Unlike Original Medicare Plans provided through the government, Advantage Plans are offered through private insurance companies approved by Medicare. This means you can pick your ideal plan, whether it’s a PPO, HMO, or another type of plan.
MAPDs
When an Advantage plan combines your hospital, medical, and prescription drug coverage into one convenient, comprehensive package, it’s commonly referred to as a Medicare Advantage Prescription Drug Plan (MAPD).
By law, Medicare Advantage Plans are required to cover everything that an Original Medicare Plan covers (both Part A & B) with the exception of hospice care. However, the majority of Medicare Advantage Plans will include this anyway — just ask your plan to help you find a Medicare-approved hospice provider near you.
Get Extra Benefits Not Covered by Medicare
In addition, many insurance providers will add on benefits like routine vision, hearing, and dental care. Wellness programs like Silver Sneakers or discounted gym memberships are also often included. The Medicare Advantage plans currently offered are an all-inclusive option you can feel good about.
Let’s look at the potential for prescription drug coverage in more detail. There are several types of Medicare Advantage Prescription Drug coverage within each of the following plans:
- Health Maintenance Organization (HMO): Usually offers prescription coverage.
- Preferred Provider Organization (PPO*): Usually offers prescription coverage.
- Medicare Savings Account (MSA): Does not include prescription coverage.
- Private Fee-For-Service (PFFS): May or may not include it.
- Special Needs Plans (SNP): Requires prescription drugs to be covered.
The specific rules for prescription drug coverage will vary among these different plans — according to your provider and location. If the plan you’re most interested in does not offer coverage, you can still get it by adding a stand-alone Medicare Prescription Drug Plan (PDP).
Find the Right Medicare Plan for You.
At Jersey Medicare Solutions, we make it easy to find the right Medicare insurance plan for you. You can even enroll yourself. So get started today!
Thomas M. Brzezinski is one of the founding partners of WMAG William & Michael Advisor Group LLC and Jersey Insurance Solutions. He has been involved in the insurance industry for over ten years and specializes in developing client relationships that last a lifetime.
